JP Morgan boss Jamie Dimon meets staff at Chaseside in Bournemouth as £28.6m investment is confirmed

JP Morgan boss jets into Bournemouth as £28.6m investment is confirmed

The JP Morgan site at Chaseside, Bournemouth

Jamie Dimon

First published in News
Last updated
by , Chief Reporter

ONE of the most powerful bankers in the world jetted into Bournemouth today to meet employees of his firm as it announced a big boost for the town.

Jamie Dimon, chairman, president and chief executive of JP Morgan, paid a visit to the Chaseside site as the banking giant announced a major investment into the town.

Mr Dimon whizzed into Bournemouth Airport earlier today for the visit, which was not made public in advance, as JP Morgan confirmed that it will be spending £28.6 million on improving Chaseside, which the Daily Echo reported yesterday.

He addressed all 4,000 staff in person and by video conference and conducted a question and answer session.

Mandy Payne, president of Bournemouth Chamber of Trade and Commerce, told the Echo: “It’s great news, it’s showing investment in the area and JP Morgan is very proud to support the area and it’s great to see them putting their feet down even further and securing those jobs.”

Tobias Ellwood, MP for Bournemouth East, added: “I visited the place only a few weeks ago and I’m delighted that JP Morgan is making the long term commitment for the town, not just for the staff, but also underlining the growing reputation that Bournemouth has for the financial services industry.

“I hope it will lead to other companies in the same industry matching this commitment.”

The bank says the new investment will give staff access to more state-of-the-art communications technology and equipment, enabling better interaction with colleagues in Europe, the US and Asia.

Speaking ahead of his visit, New York-based Mr Dimon said: “Bournemouth offers access to high quality talent and to facilities that can support our business, not just in London, but around the world.

“We are proud to be an active member of the Bournemouth community and to be the largest private sector employer in Dorset.”

JP Morgan has had offices in Bournemouth for 28 years, supporting client activities in 40 countries.

One member of staff said Mr Dimon had seemed “charismatic and honest” and had said he believed in straight talking.

Another said that Mr Dimon spoke about his vision for the company for around an hour.

When asked about how he gauged a successful business, he said: “You can be big and stupid. It’s not just about profits, it’s about the people, about technology, but you have to be financially successful in order for you to be able to do the other things”.

Mr Dimon told employees that markets and profits went up and down “but quality had to be there all the time”.

Jamie Dimon’s career 

Jamie Dimon is JP Morgan Chase’s chairman, president and chief executive.

He became the bank’s president and chief operating officer following the merger in 2004 of JP Morgan Chase’s and Bank One Corporation, where he had been chairman and chief executive.

The 58-year-old New Yorker graduated from Tufts University in 1978 and received an MBA from Harvard Business School in 1982. His pay for 2013 was 20million US dollars – £12.1m – consisting of $1.5million in salary and $18.5million in shares.

Comments (19)

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5:19pm Thu 1 May 14

UbelievableJeff says...

Did he bring the London Whale with him? Cant believe all the sycophantic Dimon-worshipping - presides over a bank with serious moral issues.
Did he bring the London Whale with him? Cant believe all the sycophantic Dimon-worshipping - presides over a bank with serious moral issues. UbelievableJeff
  • Score: 5

6:13pm Thu 1 May 14

John T says...

Welcome to Jamie Dimon, who is as sparkling a diamond as Bob Diamond, former Chief Executive of Barclays Bank, who resigned following controversy over Libor manipulation by his Bank, with a multi-million dollar pay off, after helping to bring the British and World economies to their knees and creating the subsequent recession.
Welcome to Jamie Dimon, who is as sparkling a diamond as Bob Diamond, former Chief Executive of Barclays Bank, who resigned following controversy over Libor manipulation by his Bank, with a multi-million dollar pay off, after helping to bring the British and World economies to their knees and creating the subsequent recession. John T
  • Score: 6

6:14pm Thu 1 May 14

whataboutthat says...

JPM = dirty money, very dirty, ask the American financial authorities.
JPM = dirty money, very dirty, ask the American financial authorities. whataboutthat
  • Score: 2

6:24pm Thu 1 May 14

mikeymagic says...

John T wrote:
Welcome to Jamie Dimon, who is as sparkling a diamond as Bob Diamond, former Chief Executive of Barclays Bank, who resigned following controversy over Libor manipulation by his Bank, with a multi-million dollar pay off, after helping to bring the British and World economies to their knees and creating the subsequent recession.
Herre come the comments from people who know nothing about it. Continue reading the Sun.
[quote][p][bold]John T[/bold] wrote: Welcome to Jamie Dimon, who is as sparkling a diamond as Bob Diamond, former Chief Executive of Barclays Bank, who resigned following controversy over Libor manipulation by his Bank, with a multi-million dollar pay off, after helping to bring the British and World economies to their knees and creating the subsequent recession.[/p][/quote]Herre come the comments from people who know nothing about it. Continue reading the Sun. mikeymagic
  • Score: 14

6:55pm Thu 1 May 14

Brock_and_Roll says...

Whatever you think of Dimon, JPM or bankers in general its great that JPM are committing to the area . The staff at Bournemouth are not "investment bankers" they are just normal people doing the (boring) nuts and bolts of global banking such as custody.

JPM is one of the biggest employers in the area and pays some of the best money - only a complete idiot would want to see them go. Fag packet calculation is if the average salary is £30k x 4,000 staff = £120m. If you then assume a Local Multiplier Effect (the proportion of earnings spent locally of 30%) then JPM is worth circa £156m to the Bournemouth economy EVERY YEAR.
Whatever you think of Dimon, JPM or bankers in general its great that JPM are committing to the area . The staff at Bournemouth are not "investment bankers" they are just normal people doing the (boring) nuts and bolts of global banking such as custody. JPM is one of the biggest employers in the area and pays some of the best money - only a complete idiot would want to see them go. Fag packet calculation is if the average salary is £30k x 4,000 staff = £120m. If you then assume a Local Multiplier Effect (the proportion of earnings spent locally of 30%) then JPM is worth circa £156m to the Bournemouth economy EVERY YEAR. Brock_and_Roll
  • Score: 39

6:56pm Thu 1 May 14

Brock_and_Roll says...

Brock_and_Roll wrote:
Whatever you think of Dimon, JPM or bankers in general its great that JPM are committing to the area . The staff at Bournemouth are not "investment bankers" they are just normal people doing the (boring) nuts and bolts of global banking such as custody.

JPM is one of the biggest employers in the area and pays some of the best money - only a complete idiot would want to see them go. Fag packet calculation is if the average salary is £30k x 4,000 staff = £120m. If you then assume a Local Multiplier Effect (the proportion of earnings spent locally of 30%) then JPM is worth circa £156m to the Bournemouth economy EVERY YEAR.
...oh and that is just the staff. The company itself will spend many millions locally each year on goods and services.
[quote][p][bold]Brock_and_Roll[/bold] wrote: Whatever you think of Dimon, JPM or bankers in general its great that JPM are committing to the area . The staff at Bournemouth are not "investment bankers" they are just normal people doing the (boring) nuts and bolts of global banking such as custody. JPM is one of the biggest employers in the area and pays some of the best money - only a complete idiot would want to see them go. Fag packet calculation is if the average salary is £30k x 4,000 staff = £120m. If you then assume a Local Multiplier Effect (the proportion of earnings spent locally of 30%) then JPM is worth circa £156m to the Bournemouth economy EVERY YEAR.[/p][/quote]...oh and that is just the staff. The company itself will spend many millions locally each year on goods and services. Brock_and_Roll
  • Score: 17

7:24pm Thu 1 May 14

mikeymagic says...

Brock_and_Roll wrote:
Brock_and_Roll wrote:
Whatever you think of Dimon, JPM or bankers in general its great that JPM are committing to the area . The staff at Bournemouth are not "investment bankers" they are just normal people doing the (boring) nuts and bolts of global banking such as custody.

JPM is one of the biggest employers in the area and pays some of the best money - only a complete idiot would want to see them go. Fag packet calculation is if the average salary is £30k x 4,000 staff = £120m. If you then assume a Local Multiplier Effect (the proportion of earnings spent locally of 30%) then JPM is worth circa £156m to the Bournemouth economy EVERY YEAR.
...oh and that is just the staff. The company itself will spend many millions locally each year on goods and services.
Stupid comment. JPM staff work **** hard and earn good salaries which they spend on services within our community! What do you want, a hand out from a global company? They employ 4000+ people locally which if they left would severly damage the local economy
[quote][p][bold]Brock_and_Roll[/bold] wrote: [quote][p][bold]Brock_and_Roll[/bold] wrote: Whatever you think of Dimon, JPM or bankers in general its great that JPM are committing to the area . The staff at Bournemouth are not "investment bankers" they are just normal people doing the (boring) nuts and bolts of global banking such as custody. JPM is one of the biggest employers in the area and pays some of the best money - only a complete idiot would want to see them go. Fag packet calculation is if the average salary is £30k x 4,000 staff = £120m. If you then assume a Local Multiplier Effect (the proportion of earnings spent locally of 30%) then JPM is worth circa £156m to the Bournemouth economy EVERY YEAR.[/p][/quote]...oh and that is just the staff. The company itself will spend many millions locally each year on goods and services.[/p][/quote]Stupid comment. JPM staff work **** hard and earn good salaries which they spend on services within our community! What do you want, a hand out from a global company? They employ 4000+ people locally which if they left would severly damage the local economy mikeymagic
  • Score: 1

9:23pm Thu 1 May 14

High Treason says...

I wonder if he had to pay £2-50 for using the car park like the rest of us. No, thought not.
I wonder if he had to pay £2-50 for using the car park like the rest of us. No, thought not. High Treason
  • Score: -9

9:44pm Thu 1 May 14

whataboutthat says...

I think JPM are corrupt and you shysters are just happy to take the money.
So there.
I think JPM are corrupt and you shysters are just happy to take the money. So there. whataboutthat
  • Score: -11

10:54pm Thu 1 May 14

nickynoodah says...

whataboutthat wrote:
I think JPM are corrupt and you shysters are just happy to take the money.
So there.
jeff of George
so there you sound like a pansy georgina.
[quote][p][bold]whataboutthat[/bold] wrote: I think JPM are corrupt and you shysters are just happy to take the money. So there.[/p][/quote]jeff of George so there you sound like a pansy georgina. nickynoodah
  • Score: -5

11:09pm Thu 1 May 14

cherries13 says...

whataboutthat wrote:
I think JPM are corrupt and you shysters are just happy to take the money.
So there.
I love the way there are so many stupid people around with no ambition like you that it makes it so easy to succeed.
[quote][p][bold]whataboutthat[/bold] wrote: I think JPM are corrupt and you shysters are just happy to take the money. So there.[/p][/quote]I love the way there are so many stupid people around with no ambition like you that it makes it so easy to succeed. cherries13
  • Score: 6

12:22am Fri 2 May 14

HRH of Boscombe says...

cherries13 wrote:
whataboutthat wrote:
I think JPM are corrupt and you shysters are just happy to take the money.
So there.
I love the way there are so many stupid people around with no ambition like you that it makes it so easy to succeed.
Very true. Love it. Class!
[quote][p][bold]cherries13[/bold] wrote: [quote][p][bold]whataboutthat[/bold] wrote: I think JPM are corrupt and you shysters are just happy to take the money. So there.[/p][/quote]I love the way there are so many stupid people around with no ambition like you that it makes it so easy to succeed.[/p][/quote]Very true. Love it. Class! HRH of Boscombe
  • Score: -6

12:29am Fri 2 May 14

HRH of Boscombe says...

High Treason wrote:
I wonder if he had to pay £2-50 for using the car park like the rest of us. No, thought not.
He's not like Prince Charles who just fell into the top spot.
.
Like it or not this guy is a global expert in business and branding. I worked there 10+yrs ago and it's a stressful as you make it.
[quote][p][bold]High Treason[/bold] wrote: I wonder if he had to pay £2-50 for using the car park like the rest of us. No, thought not.[/p][/quote]He's not like Prince Charles who just fell into the top spot. . Like it or not this guy is a global expert in business and branding. I worked there 10+yrs ago and it's a stressful as you make it. HRH of Boscombe
  • Score: -25

1:07am Fri 2 May 14

Redgolfer says...

mikeymagic wrote:
John T wrote:
Welcome to Jamie Dimon, who is as sparkling a diamond as Bob Diamond, former Chief Executive of Barclays Bank, who resigned following controversy over Libor manipulation by his Bank, with a multi-million dollar pay off, after helping to bring the British and World economies to their knees and creating the subsequent recession.
Herre come the comments from people who know nothing about it. Continue reading the Sun.
If you cannot spell, then you keep reading your comics ???
[quote][p][bold]mikeymagic[/bold] wrote: [quote][p][bold]John T[/bold] wrote: Welcome to Jamie Dimon, who is as sparkling a diamond as Bob Diamond, former Chief Executive of Barclays Bank, who resigned following controversy over Libor manipulation by his Bank, with a multi-million dollar pay off, after helping to bring the British and World economies to their knees and creating the subsequent recession.[/p][/quote]Herre come the comments from people who know nothing about it. Continue reading the Sun.[/p][/quote]If you cannot spell, then you keep reading your comics ??? Redgolfer
  • Score: 7

8:53am Fri 2 May 14

P Barker says...

£28 million is peanuts to JPM. The Gulfstream 650 that the boss arrived in costs £50m.
£28 million is peanuts to JPM. The Gulfstream 650 that the boss arrived in costs £50m. P Barker
  • Score: 6

9:16am Fri 2 May 14

John T says...

mikeymagic wrote:
John T wrote:
Welcome to Jamie Dimon, who is as sparkling a diamond as Bob Diamond, former Chief Executive of Barclays Bank, who resigned following controversy over Libor manipulation by his Bank, with a multi-million dollar pay off, after helping to bring the British and World economies to their knees and creating the subsequent recession.
Herre come the comments from people who know nothing about it. Continue reading the Sun.
Ja, mein herr. Frankfurt uber alles!
[quote][p][bold]mikeymagic[/bold] wrote: [quote][p][bold]John T[/bold] wrote: Welcome to Jamie Dimon, who is as sparkling a diamond as Bob Diamond, former Chief Executive of Barclays Bank, who resigned following controversy over Libor manipulation by his Bank, with a multi-million dollar pay off, after helping to bring the British and World economies to their knees and creating the subsequent recession.[/p][/quote]Herre come the comments from people who know nothing about it. Continue reading the Sun.[/p][/quote]Ja, mein herr. Frankfurt uber alles! John T
  • Score: 4

11:10am Fri 2 May 14

hmmmmmmmm says...

Nice Guy.
Not.
Nice Guy. Not. hmmmmmmmm
  • Score: 2

1:31pm Fri 2 May 14

kingstonpaul says...

P Barker wrote:
£28 million is peanuts to JPM. The Gulfstream 650 that the boss arrived in costs £50m.
Your point is? That's a pretty stupid context - unless you're a plane spotter
[quote][p][bold]P Barker[/bold] wrote: £28 million is peanuts to JPM. The Gulfstream 650 that the boss arrived in costs £50m.[/p][/quote]Your point is? That's a pretty stupid context - unless you're a plane spotter kingstonpaul
  • Score: 3

3:01pm Fri 2 May 14

keith milton says...

if this jerk was one of us slaves he would be in jail,

thieving criminal.

shame on the brainwashed who still work there.
if this jerk was one of us slaves he would be in jail, thieving criminal. shame on the brainwashed who still work there. keith milton
  • Score: -25

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